In France “It takes even more courage then usual to be an entrepreneur” replied Marc Westermann, principal of telecommunications and internet corporation SFR Développement, when asked about the current climate for French-based start-ups.
In the recent Global Competitiveness Index 2012-2013, a report which globally ranks the pillars of institutions, in which each pillar represents an area considered as an important determinant of competitiveness. In this report France was ranked 21st, sliding down three places from its position last year. The report states that this decline is due to the falling confidence and untrustworthiness in public and private institutions and the financial sector.
It is true that it is a time of great upheaval in France. Like many European countries, France’s economy is currently facing numerous challenges. When socialist President Francois Hollande was elected in May last year his economic policy became a target for the press. Hollande’s 2013 Budget proposals concerned…
